ECONOMICS E-1010 FALL 2010 W 7:35 to 9:35PM; Sever Hall 113 Section Th 5:30-6:30; 1 Story St, Rm 302


TA: Rajiv Shankar

MICROECONOMIC THEORY DESCRIPTION Economics E-1010 presents the basic analytical tools of microeconomics. We will start by looking at the decision-making of individual consumers and ask how these decisions can be optimized, or improved. Next, we will look at how firms make and coordinate their decisions under varying market structures, including perfect competition and monopoly. Then we will look at strategic behavior in imperfectly competitive markets, making use of concepts from game theory such as Nash equilibrium. Finally, we will take up topics including (from among?) bargaining theory, information economics, externalities, public goods, and welfare analysis. Econ E-1010 is taught at the intermediate level and is appropriate for students who have already completed a first-year “principles” course in microeconomics. Mathematical preparation at the level of basic algebra is a prerequisite, and familiarity with first-year calculus will be of help. Students will learn the key tools and principles economists apply to understand a wide range of phenomena, using graphical representations, some math, and plain logic to present the important ideas and solve basic microeconomic problems. REQUIREMENTS 10% 20% 30% 40% Sections. Problem Sets. Midterm Exam. Final Exam. Includes weekly attendance and participation. 4 problem sets due every 2-3 weeks. 2-hour exam, October 20. 2-hour exam, December 15. Additional material will be assigned on problem sets and exams for graduate credit.

Graduate credit

READINGS There are several good textbooks on intermediate microeconomics. following is recommended for this course: Either of the

Besanko & Braeutigam, Microeconomics, 2nd Edition (Wiley). Pindyck & Rubinfeld Microeconomics, 6th Edition (Prentice Hall). An alternative text that is also very good is, Varian, Intermediate Microeconomics, 5th Edition (Norton). Students are expected to read the assigned chapters before the corresponding class session. From time to time, additional background references and supplementary readings may be assigned.

Participation by all students is strongly encouraged. As such. All official course announcements (e. due at the beginning of Wednesday lectures.) will appear on the homepage. Problem Sets: There will be 4 problem sets assigned every 2-3 weeks. Sections: Attendance at all sections is mandatory. The quality of your section experience depends heavily on the involvement of other students. class cancellations. and other helpful material.g.harvard. make sure any written material you submit is your own work. 2 .com/pindyck. fostering a supportive.prenhall. WEBSITE AND TEXTBOOK SUPPORT The course website is a very useful place for you to visit. Use of old course materials. is prohibited. including exams and problem sets from online sources. While you may discuss assignments with your classmates and to familiarize yourself with the possible serious consequences of academic dishonesty. electronic readings.ECONOMICS E-1010 GRADING AND OTHER COURSE POLICIES FALL 2010 Harvard takes matters of academic honesty very seriously. and all assignments and answer keys will also be posted there. etc. There is also a discussion section and links to the publisher’s website at http://www. You should consult the Official Register of the Harvard Extension School and the website http://www.. cooperative environment will be essential. Missed sections or tardiness will reduce your section grade. Sections will be especially helpful in preparing for problem sets and reviewing for exams. deadlines. Part of your participation grade will be based on your contribution to the learning environment in the classroom. which provides practice problems.extension.

16 10/20 UNIT III 10/13 10/27 11/3 MIDTERM EXAM MARKETS & COMPETITIVE STRATEGY Monopoly Duopoly Strategic Behavior 10-11 12 13 11-12 13 14 UNIT IV 11/10 11/17 12/1 12/8 Decision under Uncertainty Bargaining Externalities and Public Goods Review INFORMATION & WELFARE 5 17 16.ECONOMICS E-1010 FALL 2010 UNIT I 9/1 9/8 9/15 Introduction: What is Microeconomics? Theory of the Consumer Individual and Market Demand CONSUMER CHOICE Pindyck & Rubin Besanko Chs. 18 15 15-16 17 12/15 FINAL EXAM 3 . 1-2 3 4 1-2 3-4 5 UNIT II 9/22 9/29 10/6 Theory of the Firm Profit Maximization Perfect Competition FIRM BEHAVIOR 6 7 8-9 6-7 8 9-10.

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